Final answer:
The debt relief program implemented by the IMF offers loans as a last resort to countries facing financial difficulties. However, the IMF's loan decisions are criticized for benefiting developed nations more than developing nations. The IMF also requires countries to implement structural adjustment programs as a condition for receiving loans.
Step-by-step explanation:
The debt relief program implemented by the International Monetary Fund (IMF) aims to provide financial assistance to countries facing financial difficulties. One true statement about the IMF's debt relief program is that it offers loans to countries that have exhausted all other funding options. This makes the IMF a lender of last resort, granting loans to countries in dire economic circumstances.
Another true statement is that the IMF's loan decisions are often criticized for attaching terms and conditions that benefit the lenders from developed industrialized nations more than the borrowers in the developing world.
Lastly, the IMF requires countries to implement structural adjustment programs as a condition for receiving loans. These programs involve deregulation, privatization, and removal of trade barriers.